Ariel Property Advisors sells 2 multifamily properties for $25.62 million; Shkury, Sozio, and Tortorici rep both parties in $17 million sale

Ariel Property Advisors arranged the sale of the following two multifamily properties totaling $25.62 million: * Logan Plaza, located at 1423-25 Amsterdam in West Harlem, sold for $17 million. The 120,570 s/f, nine-story, 130-unit, low and moderate income building was constructed in the 1980s during the Koch administration and is governed by a housing assistance corp. agreement. The team of Shimon Shkury, Victor Sozio, and Michael Tortorici served as exclusive agents for the seller, an affordable housing group, and identified the buyer, a private investor. * A 44,295 s/f, six-story, 56-unit walk-up at 500 Fort Washington Ave. in Washington Heights sold for $8.62 million. The team of Sozio, Shkury, Tortorici, and Jesse Deutch served as exclusive agents for the seller, a private investor, and identified the buyer, also a private investor. Sozio said, "The area surrounding Bennett Park where this property is located is one of the most desirable areas in Washington Heights. This property has been well maintained and offers a considerable amount of upside in its rents."